Seritage Growth Properties (NYSE:SRG) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Seritage Growth Properties (NYSE:SRG) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.62 and traded as low as $2.54. Seritage Growth Properties shares last traded at $2.6250, with a volume of 197,560 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SRG. Weiss Ratings downgraded shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties currently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Up 1.0%

The company has a market cap of $147.87 million, a P/E ratio of -1.82 and a beta of 2.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 18.47 and a quick ratio of 18.47. The stock has a fifty day moving average price of $2.62 and a two-hundred day moving average price of $2.93.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $2.05 million for the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Institutional Trading of Seritage Growth Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC grew its position in Seritage Growth Properties by 0.5% in the 4th quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,050 shares in the last quarter. Barclays PLC boosted its stake in shares of Seritage Growth Properties by 307.7% in the 4th quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock worth $25,000 after buying an additional 5,717 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Seritage Growth Properties by 5.3% in the 3rd quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider’s stock worth $612,000 after buying an additional 7,263 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Seritage Growth Properties by 21.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Boothbay Fund Management LLC grew its holdings in shares of Seritage Growth Properties by 2.5% in the fourth quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider’s stock valued at $1,040,000 after acquiring an additional 7,903 shares in the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company’s core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.